The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-03-23
NO EXTRA SESSION.
THE HOPES OF THE MOST ARDENT
DEVOTEE
Vanished BY the Authority to Use
the Surplus In the Purchase OF
Bonds In the Market.

suggestion that the government has
authority TO use the surplus in the
purchase OF bonds in the market has
opened q way by which the sccumu.
lstion OF money In the Treasury may
be avoided, and the threatened extra
session is evidently averted. The
majority Of the Democratic party ere
quite satisfied with this. They did
not want an extra session, for 1t
would have precipitated some ttrug-
giles for which they sre not yet ready.
The anti-Randall fight promises to be
bitter one. There is no doubt that
certain members ara inclined to exact
q pledge from Mr.. Carlisle that he will
not put Mr.. Randall again at the head
O. the Appropriation Committee, and
hi probable from present appearances
that he will sccede to this demand.
Mr Carlisle was much chagrined by
the failure Of the last Congress to carry
out the line of policy that
had been promised by himself and
Mr.. Morrison. He, Of course, feels
that the Democratic party must make
a record on the tariff next time or 1t
will not be in any trim to 90 into the
FIX in 1888. 81, like the others, he
thinks 1t time TO resort to the "heroic
measuree," snd is in favor Of tying Mr..
RaldalPs hands. Whether or not they
will succeed in this seems doubtful. /
was talking with leading Democrat,
an ex.membeT Of the Ways and Means
Committee, on this subject. Said he:
"If Mr.. Randall wants TO prevent con-
sideration of the tariff he can do 80 In
the next Congress great deal easier
than he did In the last one, and be
controlled the lRst one with ease 10
himself"
"What do you think he will do with
his power in the next Congress ?"
Il think he will zee that the tobacco
tar is removed, and the tax on whisky
cut down before he permits the tariff
TO be reduced at all"
"Wby do you think this2"
Because have 1t from his own
lips. have talked with him ON the
subject, and know just how he feels.
He thinks the internal revenue tax
ought to be all wiped out, and the de.
pendence On the tariff for en income
resumed. Yet he is willing TO defer
to the wishes OF those who think
otherwise, aud he will consent 70 a
plan something like this: A repeal
OF the tobacco tax, reduction Of the
whisky tax to 80 cents on the gallon,
the removal Of the tax on whiskJ ueed
in the manufactures and arts, and
when this is done, revision and
equalization Of the tariff, an increaee
in The free list, and reduction of tariff
on few articles, but only q few"
"Will he command strength enough
to get thisT
"Undoubtedly. He held the bal
ance Of power In the last Congress
between the high tariff Republicans
and the low tariff Democrats. Next
time he will hold II good deal more
surely than this time. His following,
especially In relation TO the tobacco
tax question, will be even stronger
than before, as the majority between
Republican, aud Democrats is much
attenuated as compared with last Con.
gress, and II will be much easier with
his following to demand whatever he
wants.
The distillers are preparing for a
strong and long fight in the next Con
gress for an indefinite extension of the
bonded period. They have an agent
or attorney" here, who is already en-
gagged in working the thing up. They
are going in for long and persistent
aud probably successful fight for an
indefinite extension OF the bonded
period. And IL looks as though they
might win. They had a good deal OF
strength in the last Congress, and ex.
peot to have more In the next. They
do not ask any reduction of the tax,
but they do want the law 80 changed
30 that they need not take their goods
out Of bond and pay taxes before they
are ready.
The reports OF the Bureau Of Statls.
tics lead TO the belief that the business
people arc going to find this one Of the
mos satisfactory years that they have
had for a long time. At home, as
everybody k10wF, business Ia booming,
but the statement of exports and inn
ports are quite rs gratifying as those
had Of the home bueiness. II the i'm.
ports and exports Of the first seven
months Of the liscal year are to be
taken IS an index OF what the year ia
to be, 1t will be very prosperous one.
The exports OF the first seven months
oil the fiscal year amounted in value TO
over $3.50, 100000. If they 10 on at
tGis rate during the remainder OF the
year they will foot up ut the end OF
the year nearly eight hundred million.
There have never been hut three years
in the history Of the country in which
the exports have reached $500, 900, 900
in value. Another encouraging feat.
ure is that while we are sCoopinQ in
$SO0,C00,000 of other peoples money,
from all parts OF the world, we are not
sending 80 much Of il abroad again as
we have sometimes done. Our i'm.
port this year, judgiEg from what
HIS been done thus lar, seem likely
to be only about 1915, 100000
in value, leaving handsome
balance Of about $l25,0O0,000 in
our favor In our commerce with the
world. List year the balance of trade
in our favor was less than $50, 000,0 900.
Should we happen to get into trouble
with Great Britain over the PROPOSE.
ton for closing our ports in q retalia-
tory way it would, of course, lessen
our tx ports greatly, for Great Britain
is our very best customer. Very few
people probably realize that the large
proportion Of our merchandise going
abroad goes to Great Britain and her
depeu 1encits. For instance, Of the
Sl0000,000 worth OF corn shipped
abroad in the first seven months of
the fiscal year, over 100000 worth
went to Great Britain, Ireland and
Canada OF the $50 100000 worth Of
wheat sent abroad, over $32, 100000
worth went TO Great Britain and Ire
land. OF the f30,000,000 worth OF
-four sent abroad, over 81, 900, 900
worth wen! to Great Britain. Ireland
ard British North America. OF the
$l50.000000 worth Of cotton sent
abroad, Great Britain and the depen-
denotes took almost $l00000,0OO
worth. Oithe s40,00O,0OO worth Of
pork and pork products that have
gone abroad in the year, about $685.
100000 worth have gone to Great
Britain,